This may indirectly solve your problem. Pick a few algorithms and performance tests from this site http://dromaeo.com/ that seem similar to your jQuery plugin. Don't run comprehensive tests as they do on the site. Instead, pick fairly small and fast algorithms, and run them for an unnoticeable period of time.
Use a tiny predefined time span to limit how long these tests are allowed to run. Let's say if that span is 200 ms, and on a fast machine with browser A, you can get 100 iterations, while on some random user's machine, it's only able to complete 5 iterations, then you may want to consider disabling it on the user's machine. Tweak and tweak till you find the optimal numbers.
As a bonus, send all test results back to your server so you have a better idea of where your users lie in the speed spectrum. If a big majority of users are using slower computers and older browsers, then it just may make sense to remove the thing altogether.